Commercial Retail Banking

A spectacular year, with a 59% growth in profits

Bankinter's activity focused on individuals generated pre-tax profits of 747 million euros in 2024, representing a 59% increase over the previous year. The gross operating income of the Commercial Retail Banking area stood at 1.3 billion euros, with a growth of 28%, driven by the two large segments into which the activity is subdivided: Wealth Management, where it rose by 46% and Retail Banking (+22%).

To achieve these spectacular results, the effort made in customer acquisition was decisive: 139,779 new customers joined the bank throughout the year, 14% more than in 2023. Never before has such a high figure been achieved in just twelve months. As of 31 December, Bankinter had 995,550 customers (individuals).

One of the challenges for 2024 was to significantly increase the earnings from fees. We achieved this objective. The Commercial Retail Banking area earned 387 million euros in fees, which represents a 13% increase when compared to 2023. It is worth highlighting the increase in earnings from fees of the investment fund, equity and insurance product businesses. The net interest margin amounted to 877 million (+27%).

Two other key objectives were also achieved: customer credit grew by 669 million euros, as compared to a decrease of 736 million in the previous year. Similarly, customer deposits amounted to 43 billion euros, with an increase of 2.2% and, most importantly, with a decrease in their cost from September onwards.

Products

The Salary Account and mortgage loans continued to be the main drivers of customer acquisition. In the second case, Bankinter maintained its market share, with its volume of loans for home purchases growing in the same proportion as the sector as a whole.

These two products were joined by the new Digital Account, with no fees and no need for setting up direct deposits or a minimum monthly income deposited, of which 28,056 were opened. The Dual Mortgage, launched at the end of 2023, which allows customers to choose which part of the loan is subject to a fixed rate and which to a variable rate, totalled 258 million euros as of 31 December.

Consumer credit rose in terms of balance and activity. Customers arranged credit facilities worth 988 million euros (+13%).

There are two investment funds with an outstanding performance: Bankinter Premium Fixed Income, which became the third in Spain in terms of inflows and the innovative Bankinter Investment Inversión Alternativa I FCR, which can be opened from just 10,000 euros, very popular among small investors.

The DANA Flash Flood and Artificial Intelligence

As soon as the DANA Flash Flood hit Valencia on 29 October, Bankinter established specific telephone support services to assist the commercial network and customers. Although most branches in the affected areas did not have to interrupt their activities, efforts had to be redoubled to meet the demanded services. In particular, the Bank helped arrange the ICO (Official Credit Institute) funding for material damages, as well as the payment holiday on mortgages, processing own insurance policies and those of the Insurance Compensation Consortium, as well as allowing holders to redeem their pension funds early if needed.

During 2024, Bankinter continued to exploit the possibilities offered by artificial intelligence, which is already present in the day-to-day management of sales and advice, through the bank's CRM, the platform that helps manage customer relationships.